The New Hampshire Retirement System is the latest pension group to redeem assets from Fisher Investments in the wake of Chairman Ken Fisher’s lewd remarks at a recent industry event, according to a report.
The state is yanking $239 million, which accounted for about 2.6% of the system’s assets, Bloomberg said in its coverage. This brings the total redemptions to over $2 billion, out of the roughly $114 billion managed by the firm.
“The recent statements made by Ken Fisher are not only offensive and inappropriate, they are incompatible with the values of the retirement system and bring into question Mr. Fisher’s judgment,” according to a statement from the New Hampshire Retirement System.
Fisher has been working since 2001 with the group, which manages a total of $9.2 billion in assets, Bloomberg says.
Other pension systems that have pulled assets from Fisher Investments include those in Iowa, Michigan, Boston and Philadelphia.